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The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from July 1, 2017, to September 30, 2017.

The Canada Revenue Agency (CRA) confirmed Monday that it will not seek leave to appeal to the Supreme Court of Canada the decision of the Federal Court of Appeal that granted BP Canada Energy Company's (BP Canada) appeal of an order to release certain records to the CRA.

Most Canadian income tax and benefit returns for 2016 are due on April 30, 2017. However, since this date is a Sunday, the Canada Revenue Agency (CRA) will consider your return to be filed on time and your payment to be made on time if received or postmarked by May 1, 2017.